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One Month Left to Apply for SBA Disaster Loans for Washington Small Businesses

Targeted News Service (Press Releases)

SACRAMENTO, Calif., June 23 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

District Director Kerrie Hurd of the U.S. Small Business Administration'sSeattle District Office today reminded Washington small businesses of the July 24, 2017, deadline to apply for an SBA federal disaster loan for economic injury caused by the Main Street Fire that occurred July 22, 2016.

According to Hurd, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans up to $2 million to help meet working capital needs caused by the disaster. "Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster's impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage," Hurd said.

The interest rate is 4 percent for businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant's financial condition.

Disaster loan information and application forms are also available from SBA's Customer Service Center by calling (800) 659-2955 or emailing [email protected]. Individuals who are deaf or hard of hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit https://www.sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.